Menu
80c section
Deduction limit of LIC premium...???
Replies (2)
Maximum deduction 150000/-.
Also can't claim more tha 10% of policy amt if policy taken after 1.4.12 & 20% if taken after 1.4.12
If policy taken for physically disabled after 01.04/13 then max of 15% claimed.
20 % if taken before 1.4.12 and 10% of the Sum assured can be claimed as an deduction under 80c , So kindly check with the amount you paid is it less than or greater than 10 % of your Sum assured
Recent Topic
- Provident fund taxation
- ITR3 AY 26-27 Error in filling status
- Queries on TDS as per IT
- Capital Gains set off on Sale of Land if held for
- ITR Form for income from freelance consultancy
- Gst rate for HSN code 28530010
- Health Insurance
- India GST Mobile App
- Reporting STCG on non equity oriented MF
- Section 54F exemption for buying a plot
Related Topics
CAclubindia
